NZD/USD: 0.64 handle under pressure from Bulls

FXStreet (Guatemala) - NZD/USD is currently trading on the bid and made room on the 0.64 handle with a low of 0.6311.

NZD/USD is currently consolidating the upside of the sharp spike in price in the back of a no-change decision from the Fed today while they wish to monitor for an improvement in the labour market and be reasonable confident on meeting their 2% target. The statement also highlighted the global uncertainties that are yet to be realised in respect to what effect they are having on the US economy and a move too soon may jeopardise an improvement in the local economy.

NZD/USD levels

Technically, the 20 DMA at 0.6384 has been penetrated and the 0.64 handle has come back into focus. The pair is trading with a bullish bias as the MACD turns more positive on the daily time frames. The next line of resistance stands at the 50 DMA at 0.6510.

Sep 17, 2015

EUR/USD rejected at 1.1421, Fed undecided on timing of lift-off

The EUR/USD pair was offered at the high of 1.1421 and now trades around 1.1390 levels even though Fed chairwoman Yellen refrained from throwing light on the timing of the liftoff.

Fed Yellen says rate to move to its longer run normal level by the end of 2018

The FOMC continues to anticipate that the first increase in the Federal funds rate will be appropriate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2% objective over the medium term, Fed Chair Janet Yellen said in a press conference following the bank’s decision to hold fire.